The Republican. [volume] (Oakland, Md.) 1877-current, 1887-05-28
Business Barometer.

NEW YORK, May OR. G.. Dun
& Go. in their weekly trade review
says: The most important news of
the week, if confirmed, is that the
Interstate Commerce Commission
will revoke all temporary suspen-
sions of the short haul clause, termi-
mating them July 1st. The revolu-
ton in business must therefore prog.
ress until its full effects have been
realized. Some of them are seen in
the contracts taken by the Canadian
Pacific to move eastward the wool of
California and 100000 pounds of
sugar and the marked revival of
shipments around the Horn"
Others appear in the decline of trade
ut the larger centres of distribution
and manufacture, and the increase of
distribution at smaller towns, with
upspringing of new manufacturing
works at manv localities. For twen-
ty.hye years the railroads have been
annlhilating barriers of distance.
The new law tends to restore old bar
riers, and to put sections, cities and
towns further away from each other.
Closely connected are the numerous
labor troubles, most of which grow
out of narrowed fields for distribu-
tiun of products. Local receipts are
still generally encouraging, with no
Instance of unusual delay in collec-
tons.
Where business is deemed dull, it
Is in every case pronounced larger
than at the same season last year. A
remarkable feature is that money is
reported in abundant supply every
where except Chicago and New York
while the demand is said to be limit
ed at Detroit, but good at Cleveland.
Where highest rates are reported, as
at Omaha 8 to 10 per cent, capitalists
offer banks large sums at per cent,
which are refused. Real estate spec
ulation is maintained there, and at
other points by rapid investment of
local and eastern capital. At Nash
vile the ruling excitement is the
coming sale of lots in the new town,
West Nashville, where new iron
works are to be located. The increas-
ed demand for money at Chicago
springs from wheat speculation and
produce operators are busily seeking
assurances for more aid from banks,
while New York exchange falls to 40
per cent discount.
Wheat rose &c last Saturday, but
weakened again, and after a week of
uncertainty with sales of 100000
bushels, closes less a cent above last
week. Corn and oats are weaker and
oil over lie lower. Pork products are
dull and sugar is unchanged. In cof-
fee there has been a wild advance
with sales of 925,O0O bags. but the
rise of 1c is wholly speculative.
Stock speculation has been active
with some advance, but the Ameri-
can public is not absorbing securities.
The enormous offerings of the Paris
loan and the low rate for money at
London account for the temporary
use of large amounts here.
The weak point is decline of SO
per cent in produce exports for the
past three weeks against an increase
offs per cent in imports. In dry
goods there is strong improvement
in cotton which causes an advance in
prices of many brown and bleached
goods and drills with standard
browns at 74c, but tine exceeding
dullness in woolens continues unre-
lieved. Recent heavy failures of
German houses in the American
trade discloses over production and
improbable competition on that
side.